Tag: investment

Bayt Launches Intilaq, Gets Into Early Stage Funding For Internet Startups In The Arab World

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IntilaqBayt.com, the leading job portal in the Arab world, is launching a new and very interesting initiative called Intilaq, that aims to fund, mentor and support aspiring entrepreneurs with early-stage technology startups.

Intilaq is interested in funding and supporting startups based in the Arab world, or who are interested in relocating to the region, that drive regional internet adoption, usage and functionality.

Intilaq is not an incubation program, nor a competition, what they’ll be doing is evaluating ideas and people on an on-going basis, looking for the right fit, and funding chosen projects in exchange for equity in the company. Depending on how much progress the entrepreneurs have made, the funding could be at a seed round or at a follow-up round.
There is also no defined amount with which they are seeding the fund, choosing to remain flexible and acting on a case by case basis.

Intilaq is interested in hearing from both technology geeks, who have technical talent and a great innovative idea looking to start a company, as well as business people, who have great business aptitude (e.g., operations, sales, marketing, business development, finance) and who want to work with technical people to build a great company.

By doing this, Bayt is looking to invest some of the experience and money it has gained over the years, building their own success, into new startups in return for equity, or the benefit of a strategic acquisition, or even to just help grow regional Internet usage and winning by growing the online employment market for Bayt.com.

Besides funding, experience and mentorship; Bayt also offers to help with invaluable industry contacts from around the region, and even workspace in some cases whether at their offices in Dubai Internet City or one of their other offices around the Arab world.

The Intilaq team is made up of Rabea Ataya, the CEO of Bayt.com, and Dan Stuart, the Head of Strategic Initiatives at Bayt.com; both as managing partners, with Dan running the day-to-day operations.

# Intilaq

Kuv Capital Launches Project To Create A Media City In Lebanon (Updated)

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Lebanon FlagMy friend Hervé Cuviliez, Founder and Managing Director of Kuv Capital just wrote about a great and ambitious new project that they’re launching in Beirut, Lebanon: The creation of a Media City in Lebanon.

This stems out of their belief that Beirut has a window to become a Digital Middle East Hub, and that despite the weak broadband infrastructure, unreliable power grid and Lebanon’s inability to reform itself, it still is a country that offers a great opportunity to entrepreneurs with all the necessary ingredients to create a startup and have a low burn rate.

Creating a company is cheap and easy (limited liability company starts at 3500 USD) and so are office space and expenses. There’s a great pool of talent available, at lower costs than the GCC countries for example.

The idea is to find old warehouses or factories, rehabilitate them into offices with decent broadband and electricity, free spaces for students who want to work on innovative projects, showrooms for high tech companies …etc.

They’ve already started working on the project; they’ve spotted three places around Beirut, talked to investors, convinced six digital related companies and a media group to move in, and they’re still reaching out to more.

The hope is that by doing this, and grouping all these innovative companies and people in one place over time, they will be able to replicate to a certain extent the creation and growth of Silicon Valley.

If you want to be involved in any way or help in growing this project, you can contact Kuv Capital at: info@kuvcapital.com

Updated: Kuv Capital released more details on the project on their official blog.
They’re in the process of setting up a company  that will run this project, and will be creating a strategic committee to advise the company on what needs to be done in the Media City.
The timeframe is currently:

  • April-May(-June if needed) will be dedicated to identify potential locations and initiate discussions with landlords.
  • May: First community meeting to brainstorm on services that should be found in the media city.
  • June: second community meeting, presentation and business model finalization.
  • July-september: meetings with investors.
  • October: Go / No Go decision.

Investing In Technology Forum, Cairo, Egypt – May 12-14th 2009

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Investing in Technology ForumThe Arab Science and Technology Foundation (ASTF), a Pan-Arab NGO with the mission of promoting and supporting Science, Technology and Entrepreneurship as a tool of economic development in the MENA region, has announced its 6th Investing in Technology Forum to be held this year in Cairo, Egypt on May 12th -14th, 2009 under the Patronage of H.E. Dr. Ahmed Nazif, Prime Minister of Egypt.

Organized in cooperation with ITIDA and Nile University, the forum is a networking opportunity for entrepreneurs, researchers, investors, regional corporate CEOs, and all technology leaders in the region who will get together to share experiences, develop relationships and explore business opportunities.

The Forum falls into ASTF efforts to bridge the gap between those who generate technology and those who generates businesses and investments, with the ultimate aim of creating strong, innovative and competitive knowledge-based businesses that can add value, generate jobs and create wealth.

The Forum is targeted at an audience of investment and business professionals; multinational corporations; leading regional corporations in technology innovation; venture capital funds, private equity funds, and investment banks; angel investors and business angel groups; technology leaders in the Arab region; incubators and technology parks; universities and research centers; NGOs and Gov. organizations; as well as technology startups and SMEs.

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Google Ventures, Google’s New Venture Capital Fund

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Google, which has invested in many startups over the years, just announced the launch of Google Ventures, its new venture capital fund.

Google Ventures

Google Ventures is expected to invest up to $100 million over the next 12 months. It will be overseen by David Drummond, who will continue in his role as senior vice president of corporate developing and chief legal officer at Google. Investments will be vetted by William Maris, who joined Google about a year ago, and Rich Miner, a co-founder of Android, a mobile software startup that Google acquired in 2005.

At its core, Google Ventures is charged with finding and helping to develop exceptional start-ups, focusing on early stage investments across a diverse range of industries, including consumer Internet, software, clean-tech, bio-tech, health care, as well as other areas.

Google says it will mainly be tapping into the connections of its employees and its ties to the venture capital world to find promising startups.

Google Ventures has already made two investments: Silver Spring Networks, a company that makes technology to help manage electric grids, and Pixazza, which links online images with related products that can be purchased.

On another note, executives from Google have been travelling around the Arab region these past days, meeting with government officials, people from development programs and entrepreneurs in a set of private networking events.

Berytech Entrepreneurs Forum, BIEL, Lebanon (May 21-22, 2009)

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Berytech Entrepreneurs Forum

Berytech announced the launch of the Berytech Entrepreneurs Forum with the support of Mohammed Bin Rashid Al Maktoum Foundation (MBRF), to take place on May 21, 22, 2009 at the Pavillon Royal of the Beirut International Exhibition & Leisure Center (BIEL), Lebanon. The event is specifically designed to help existing or aspiring entrepreneurs make contacts, start a business or take an existing business to the next level.

The forum comprises of an exhibition area, free seminars and activities on entrepreneurial best practice from Lebanon’s leading business practitioners as well as International SME experts, providing entrepreneurs with the opportunity to attend presentations and meet with an array of business support institutions.

Mr. Maroun N. Chammas, President of Berytech declared: “The wide range of services and special packages presented will help entrepreneurs become more successful in starting or expanding their enterprises. This will definitely allow them to improve their productivity and connectivity and getting access to finance”.

Several activities will be held during the forum, offering the chance to seek the advice and knowledge of experts tackling specific challenges, such as Branding, Business Law, Business Plan, Business Tax, Cash Flow, Employment, Franchising, Media relations, On-line and Smart Marketing, Raising Finance, Sales Strategies, etc.

Dr. Nicolas Rouhana, Director of Berytech Technology Pole, emphasized: “Entrepreneurs will build a professional network, relevant to all sectors through the networking and business matching activities that we are planning. Investment facilities will also be proposed to selected projects through matching to Angels and VC Funds.”

For more information on exhibitors’ section and visitors’ profile as well as for updates on the event, visit the officiel site here: www.entrepreneurs-forum.org

Private Equities ME, A Private Equity Portal For The Region

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PrivateEquities.meUAE-based RichWeb -a member of Tharaa Holding- just announced the launch of PrivateEquities.me, a portal dedicated to the private equity sector in the Middle East and North Africa region.

The portal lists private equity companies and consultancies, as well as a selection of available investment opportunities from around the region; aiming to actively contribute in the development of the private equity sector in light of the Global Financial Crisis, through providing information and updating investors on new investment opportunities, and forming a database for all private equity companies and other related companies.

Mr. Shabeer Mohamed, Managing Director of RichWeb, said “Private equity investments reached $500bn globally, out of which $13bn is based in the Middle East. In light of the new global economic challenges, private equities will be more willing to offer their portfolios and investments to the largest possible number of investors in order to continue to develop their investments. Hence, came the idea of launching a website that connects companies and investors, and offer many services and resources including listings of consultancies working in the field. PrivateEquities.me offers three confidentiality levels for those who wish to keep certain investments and information confidential and offer it to a handful of selected investors, which makes the services the website offers a qualitative shift in the regional private equity sector.”

PrivateEquities.me

The website offers listings of companies, portfolios, investment opportunities, in addition to updated information and the latest news about companies and the private equity sector in general.

RichWeb is offering a free of charge three months trial period for companies to list their information and portfolios, they can also search the available opportunities industry or by country. The visitors will receive the latest updates according to their saved search criteria.

Rich Web intends to continue developing the website, offer additional services and make available all relevant private equity information to visitors and members including researches, reports and interviews with industry leaders through cooperating with top regional media.

# PrivateEquities.me

H2O New Media Secures First Round of Funding From Equinox International

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H2O New MediaH2O New Media, the technology company focused on Enterprise Social Media applications in Dubai, has confirmed its first round of funding from Equinox International. A deal between H2O New Media and Equinox International was signed following months of negotiations as the two companies weighed inflation and market stability.

The size of the investment hasn’t been made public, but it has been described as a significant one, and H2O New Media is looking at the investment as an opportunity for growth and expansion of its operation within the MENA and APAC regions.

H2O New Media was established in 2007, as one of the leading social media software companies in the Middle East which focuses on developing niche communities within vertical industry sectors.

The company plans to further advance into key markets across the MENA region, with immediate plans to open new offices in Oman, and then an APAC office based in the Philippines.

“We have been following H2O New Media for a while and I am pleased that we have managed to come to agreeable terms and have secured a stake in the future of the company. The team has very strong background of building companies to 100M dollar plus valuations and H2O New Media has the credibility and potential to achieve this position in the market. They have been working continuously over the past 2 years to develop a number of niche portal applications that will really shake up the MEA online market whilst still providing value for businesses and consumers alike. We prefer to keep the details of our capital investment confidential but I would say it is a sizable commitment on our part and we are determined to assist H2O New Media in its positioning as a leading MENA player within the online & mobile data sectors” said Osama Qadan – Principal Partner, Equinox International.

“Although market conditions have been deteriorating and discouraging our company seems to have bucked the trend by focusing on innovation. We are fortunate to secure funding from a partner who is set to become an integral part in our expansion plans across the MENA region. Having representation in the UAE, Saudi Arabia and Egypt as well as a significant telecommunications footprint made Equinox International our preferred investor and an ideal business partner who will work with us to rapidly scale our operations and translate our products into Arabic for the larger markets. As we deliver product and develop partnerships with the regions mobile telecommunications providers our intention is to be aggressive in the market and compete with key players such as Yahoo and Google. H2O New Media has created a significant wave in a short period of time and we are committed to maintaining a strong regional presence and market share in this sector” said Mr. Steve Vaile, CEO, H2O New Media.

Intel To Invest In Three UAE Based Technology Companies

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IntelIntel, the world’s largest maker of computer chips, announced it will be investing in three UAE-based technology companies.

The funding will come from the $50 million Intel Capital Middle East and Turkey Fund, and is aimed to assist the companies in pursuing regional growth and development plans in addition to extending their product offerings. 

The three companies that will be benefiting from Intel Capital’s investment are as follows:

  • Conservus International FZ-LLC: An IT/Media marketing company that is responsible for the conceptualization, design and development of a revolutionary digital targeted advertising medium known as MyConservus Portal. (Conservus is also an IV Holdings portfolio company)
  • Pulse Technologies FZ-LLC: A leading manufacturer of building automation systems, specifically catering to property and hotel developers across the Middle East, Southeast Asia and Europe.
  • Vertex Animation Studio FZ-LLC: A cutting edge technology firm focused on providing world-class services in the field of animation, virtual reality applications and 3D multiplatform games via a multitude of technological platforms.

The size of the investments was not disclosed.

Under the Intel Capital program, Intel plans to continue supporting local entrepreneurship in the Middle East through its investments in education, digital accessibility and specialized technical competencies.

“We have a strong pipeline for future investments in the region,” Feroz Sanaulla, director of Intel Capital’s Middle East, Turkey and Africa division, said during a press conference. “Several hundred million dollars have been deployed in the region, and you will see more in the next few months.”

How much money do you need for your startup? [Poll Results]

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In the latest poll on StartUpArabia, the question to the readers was: 

How much money do you need for your startup?

The result of reader voting came out as follows:  

How much money do you need for your startup?

 

Out of 230 readers who responded to the poll:
– 37.83% of them say they’d need only between $10,000 and $50,000
– 17.83% say they need $100,000 to $250,000 
– 14.78% only need $50,000 to $100,000
– 11.74% said they need $250,000 to $1,000,000 
– 7.83% need more than $1,000,000
– and the remaining 10% don’t need any money at all

I think the results of this poll are very interesting, because they highlight a number of really important issues:

– The evident gap we have in angel and seed funding that covers the lower startup budgets that make up the biggest percentage of startup needs, as confirmed by the numbers above.

– Are the region’s VC firms being realistic with the investment sizes they’re looking for in the online and technology startups area?

– Are entrepreneurs being realistic with the amounts of money they think they need? Are they asking for too much or too little? Are they taking into consideration all the costs they need to get their startup on its feet, or are they just looking at what it costs for them to get a prototype out the door? 

These are all important issues to think about, and that I’ll be exploring in more detail in future articles.
If you have any ideas or thoughts about this, or if you would like to help in writing the articles about these points, please do drop a comment.

IV Holdings Invests In Media & Advertising Company MediaScope

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MediaScopeInteractive Ventures Holding Company (“IV Holdings”), a wholly owned subsidiary of Accelerator Technology Holdings (“ATH”), has become a strategic financial investor in MediaScope Ltd, a pioneering digital marketing and publishing company based in Jordan with operations across the Middle East.

Founded in 1994 by Jordanian entrepreneur Zeid Nasser, MediaScope holds a leadership position in media and advertising consultancy and publishing in its home market, and has recently expanded its business model to cater to online publishing, digital marketing and sales services.

“With global online adspend expected to reach over US$60 billion in 2011, MediaScope holds the potential of driving the growth of this industry within our region, especially as Internet penetration, entrepreneurial start-ups, and market confidence in online communications continue to grow across the Arab World”, said Fawaz H. Zu’bi, Chairman of IV Holdings. “With this investment, MediaScope will be able to leverage its acquired digital sales and marketing expertise to emerge as a leading regional digital media network.“

One of MediaScope’s most prominent products is mediaME.com, the Middle East’s first and leading user-generated portal for advertising and media professionals, which boasts over 4,500 registered professionals, with influence in key advertising markets in the Arabian Gulf and Levant.

Commenting on the partnership, Zeid Nasser, Founder and CEO of MediaScope, added that “We are proud to join this fraternity of forward-looking media and technology businesses, under the IV Holdings banner. We were looking for more than just funding, and we have found the industry-specific understanding and daily involvement we were seeking.”

“This year could be a defining one for the online advertising industry across the world, but particularly in the Middle East, as digital media could flourish through its cost effectiveness and unparalleled reach, amidst a slowdown in other forms of media expenditure. We at MediaScope, through our digital media products and services, will be championing an industry shift towards digital and serving the market from a new base in the Gulf, in addition to our home base in the Levant,” concluded Mr. Nasser.